Indian equity markets are expected to open on a cautious note, even as global sentiment shows tentative signs of improvement. While optimism around potential progress in U.S.–Iran talks had initially supported risk appetite, fresh developments around disruptions in the Strait of Hormuz have reintroduced uncertainty. Partial blockages and rising tensions along this critical oil route have kept global markets on edge, given that nearly 20% of global oil supply passes through it.
Brent crude, currently trading in the $94–100 per barrel range, remains highly sensitive to further escalation. Any disruption to supply could quickly push prices higher, posing a key risk for India as a major oil importer.

Foreign investor activity remains a crucial monitorable. After a phase of sustained outflows, recent sessions have shown signs of stabilisation and selective buying, offering some support to the market. At the same time, the ongoing earnings season is driving stock-specific movements, with results and forward guidance shaping sectoral trends.

Overall, sentiment remains cautiously optimistic but clearly fragile. The market environment is highly news-driven, with volatility likely to persist, particularly around geopolitical developments, crude oil price movements and foreign investor flows. 

Technical View

Nifty 50

Nifty 50 is currently trading in a consolidation phase near the 24,100–24,200 zone, following its recent recovery. The index continues to witness range-bound price action, indicating a pause in momentum with a cautious undertone. From a technical perspective, the 24,300–24,400 range remains a key resistance zone. A sustained breakout above this band is essential to extend the rally towards the 24,800–25,000 levels. On the downside, immediate support is placed near the 24,100–24,000 zone, followed by 23,800, which is expected to act as a strong demand area. Holding above these levels will be crucial to maintain the current recovery structure. The RSI is positioned in the mid-50s, indicating a neutral momentum setup. Overall, the outlook remains cautious, and only a decisive breakout above resistance zones can confirm further upside momentum.

Bank Nifty

Bank Nifty is currently trading with a slightly cautious bias near the 56,000–56,100 zone, facing supply pressure at higher levels and witnessing mild profit booking. From a technical standpoint, the 56,800–57,000 range remains a crucial resistance zone. A decisive breakout above this band is required to push the index towards the 57,500–58,000 levels. On the downside, immediate support is seen near the 55,900–55,800 zone, followed by a stronger base around 55,500. Holding above these levels will be important to maintain recovery strength.
Overall, the outlook remains cautious. A breakout above key resistance levels will be required to confirm continuation of the uptrend, especially amid ongoing global uncertainty.